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Global Fin
Net Limited in New Zealand
ask@globalfinnet.com
New Zealand Financial Company
(When a Bank is not technically a bank)
Reserve Bank Governor
A New Zealand Financial Company (NZFC) can offer banking services to
both private individuals and corporations worldwide, with no
limitations on the number of customers, amounts on deposit or number
of currencies. The NZFC can offer virtually anything a fully
licensed bank can offer, but the word BANK cannot be included in
the name. The words SAVINGS and LOAN can be included. These structures are sometimes referred to as an Offshore
Finance Company (OFC), although they can also operate onshore with
full check facilities.
There are no reserve requirements laid down for this type of
structure and there are no minimum capital requirements. The
business can be operated from our premises using our staff, or your
staff. It can be online if required with administration in your own
offices complying with the local laws.
NZ - Financial Centre
Activities of an NZFC can include but are not limited to:
·
Deposit taking & lending
·
Cash management services
·
Current accounts
·
Savings accounts
·
Term deposits
·
Wire transfer services
·
Payment processing services
·
Fund management
Annual audited accounts are required. These can be prepared in your
own offices and audit completed by your local auditor provided that
his firm is a member firm of one of the international groupings to
enable sign off to be undertaken by the NZ partner firm.
A tax rate of only 2% on interest paid to your clients is a
possibility. The tax rate on your New Zealand profit is currently at
the rate of 30%. New Zealand does have Tax Treaties currently with
34 countries that prevent profits from being taxed twice. On the
subject of tax you do need to make inquiries from professionals for
your own particular circumstances.
To carry out some of the above functions and make offers to the
public in New Zealand may require a Prospectus that complies with
the relevant legislation. We can assist in this area also. The laws
of countries where your activities are offered to the public do need
to be complied with also. Generally private offers are not subject
to such stringent scrutiny and legislation.
Information
on International Compliance
All inquiries please to
info@finnet.com.au
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